Kolkata, India -Â The All India Rubber Industries Association (AIRIA), is seeking central help to set up a Rs.5 billion (â‚¬92 million) fund to support relanting of natural rubber and to improve the technology in a number of key industries.
T.K. Mukherjee, vice-president AIRIA, said more natural rubber parks needed to be set up in the country to meet the growing demand for the product with the growth of the automobile industry. Last year, he said, around 50 000 to 60 000 tonnes of natural rubber were imported into India and consumption of rubber in the country stood at around 1.1 million tonnes.
With the setting up of a natural rubber park in Tripura, a part of the demand would be met. The park would help in development of Tripura, Mukherjee said.
AIRIA has also decided to approach the central government to seek modification in the 20 percent import duty on natural rubber. The association said the import duty on natural rubber was different from that on finished products, which is 10 percent.
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Press releasefrom AIRIA